Genius Group Sues Alto Opportunity Master Fund, SPC, Ayrton Capital, LLC and Waqas Khatri in New York Federal Court
March 01 2023 - 7:00AM
Genius Group Limited (NYSE American: GNS) (“Genius Group” or the
“Company”), a leading entrepreneur edtech and education group,
announced that on February 27, 2023, the company filed a complaint
in the United States District Court Southern District
of New York, Case Number 1:23-cv-01639 against Alto
Opportunity Master Fund, SPC – Segregated Master Portfolio B,
Ayrton Capital, LLC and Waqas Khatri (“The Parties”) seeking
an Order that rescinds and declares a financing agreement with
Ayrton Capital to be null and void. This lawsuit was filed by
Warshaw Burstein LLP of New York and Christian Levine Law Group LLC
of Texas, two firms that possess extensive experience and achieved
considerable success in litigating stock manipulation cases.
The suit challenges multiple aspects of the
financing agreement including Ayrton’s claim that in exchange for
lending $18 million dollars to Genius, it can convert this loan
into 49 million ordinary shares of the company worth around $200
million dollars. This suit follows multiple claims that the SEC has
commenced against toxic lenders who are unregistered brokers and
offer “death-spiral” financings to undercapitalized small and
mid-cap companies.
Genius Group’s CEO, Roger Hamilton said that
“the company is committed to protecting the integrity of its
operations and the value of its shareholders equity by
investigating and prosecuting toxic lenders, and market
manipulators who violate federal securities laws.”
About Genius Group
Genius Group is a world leading entrepreneur
Edtech and education group, with a mission to disrupt the current
education model with a student-centered, life-long learning
curriculum that prepares students with the leadership,
entrepreneurial and life skills to succeed in today’s market. The
group has a group user base of 4.3 million users in 200 countries,
ranging from ages 0 to 100.
For more information, please visit
https://www.geniusgroup.net/
Forward-Looking Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company’s Annual Reports on Form
20-F, as may be supplemented or amended by the Company’s Reports of
a Foreign Private Issuer on Form 6-K. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
Contacts
Investors:Flora Hewitt, Vice President of Investor Relations and
Mergers and AcquisitionsEmail: investor@geniusgroup.net
Media Contacts: Adia PREmail: gns@adiapr.co.ukUS
Investors: Dave GentryRedChip Companies
Inc1-800-RED-CHIPGNS@redchip.com
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